Youth Services to expand South Dakota program

Maryland Watch

July 30, 1996

Youth Services International Inc. said it has been licensed to expand a residential program for delinquent youth in South Dakota, adding 24 beds to bring the facility's capacity to 108.

The Owings Mills company said the extra beds mean about another $700,000 of annual revenue for the fast-growing operator of educational and behavioral-change programs aimed at juveniles.

The new beds will be at Springfield Academy in Springfield, S.D., where students range in ages from 14 to 18. The average student stays in the program for about one year.

The company's growth has largely been driven by acquisitions, as it boosts its position in the privatized corrections market. Last week, it announced a deal to buy a Utah company that provides residential group care and foster care and counseling services to about 100 youth. That deal will add about $1.5 million to YSII's revenue, the company said.

Youth Services International stock closed yesterday at $18.375, up 62.5 cents. the stock has fallen from above $30 in the recent rush out of stocks once elevated because of expectations of rapid earnings growth.

Pub Date: 7/30/96

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